Glossary

The father of the most widely accepted modern Mineral Resource and Ore Reserves reporting codes is the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (‘the JORC Code’). The original JORC Code was put together by the AusIMM after the calamatous Nickel Boom in the 1970's when the blameless bean counters suggested that the mining types should get their house in order with respect to how they described mineral deposits. To give them credit the mining professional societies involved did an exceptionally fine job. The resulting code described minimum standards for reports issued to investors and was so good that it was quickly adapted for use by some other countries, notably Canada and South Africa, whose stock exchanges quickly made their respective national JORC type codes (the CIM Code and the SAMREC Code) mandatory for listed mining company reporting. CRIRSCO was subsequently set up to oversee future development of the "JORC based" codes and to encourage the growth of their use internationally.